Designing Strategy

Dong Joon Park , Peter H. Antoniou 지음

소프트전략경영연구원 2022년 11월 20일 출간

작품소개

책소개

Preface and Message to Business Managers

The idea of this book started as part of a simple discussion on corporate consulting between the co-authors in March 2005 in San Diego.
It took about 8 months to form the problem and thematic consciousness, and then it took more than 2 years to finally form the framework of the concepts and their utility. Things started to get together through regular monthly meetings and through field application, consulting engagements, workshops and discussions in business settings.
Dr. Park was the first to introduce the Strategy Format concept in Korea. In the next years, he tested the concepts in various applications and settings with great results. He found out that the concepts are successfully applied to both for and not for profit organizations, as well as government agencies.
The book is based on Aristotle’s (the Greek philosopher) notion of phronesis. Realizing that one’s wisdom, sense, and practical thought has to be taken into consideration when applying and utilizing concepts. Every situation, every organization, every circumstance is unique and you are the one who needs to take all into consideration in applying what is needed to optimize what you want to achieve.
This is what makes strategy design difficult because we are looking into the future while interpretating issues in the present. Your role is also difficult since there is a plethora of material written about strategy and increasingly more is written criticizing whether organizations are doing the right thing or not. Even more, second-guess the strategic actions organizations take and hold corporate officers accountable before even seeing the outcomes.
In addition, we are operating in a global setting where any actions we take are morphed into something unexpected leading, at times, to unrealized outcomes.
With all this continuous turmoil it has become apparent that strategy is the mechanism which leads any organization to its next stage of development. But how is it that it can be understood and put into perspective? This is what we try to answer in this book.
Every organization is directly affected by its environment that is operating in creating a need for change. It is by applying a strategy that organizations successfully deal with the changes in the environment. But strategy by itself does not mean much if it is 'strategy for the strategy shake'. The key is the capability of the organization to proact, adopt, respond and adapt in such a way that will make the organization a successful player in the global marketplace. The right combination makes for the right outcome: on one hand the strategy and on the other hand the organization’s capability to proact.
This is well said, but what does an organization need to do to deal with all of this? Which are the steps that an organization could take to get a roadmap of specific actions that include all what is needed?
This is part of Part 2 of the book. But don’t jump too far. Let’s start from the beginning.
The Importance of Strategic Thinking and Choices
It has been more than half a century since the concept of strategic thinking was introduced in the field of corporate organizations. Techniques and guides for strategic thinking began to appear in the 1960s, and since then there have been a lot written in the field. It cannot be denied that these efforts have contributed to improving the strategic performance of organizations.
In the meantime, the central concept of strategic thinking has been selection and focus. Selection and focus are presented as the principles of strategic response. Selection and focus have been generalized as a concept appearing constantly in discussions relating to strategy, in the corporate field, or in the lecture halls of universities.
Choices are critical in strategy. If you make the wrong choice, you are going down the wrong path, and you are going to lose your strategic performance.

목차

Table of Contents


Preface and Message to Business Managers 4
Acknowledgments 9
Table of Contents 10
Chapter I. Strategic Reality and Strategy Format 21
What is Strategy Format? 22
■ Don't do that, talk about the content of your strategy in detail! 22
■ Let's start with strategy grammar 22
■ Why you need to establish a strategy grammar 22
■ The basic format of strategy 23
■ Strategy Format 1 24
■ Strategy Format 2 25
■ Strategy Format 3 25
■ Strategy Format 4 26
■ Strategy Format 5 27
■ Strategy Format 6 28
■ Strategy Format 7 28
■ Strategy Format 8 29
■ Strategy Format 9 29
■ Strategy Format 10 30
■ Which Strategy Format are we using? 30
■ Which Strategy Format should you use? 32
Chapter II. Structure and Contents of Strategy Format 34
1. Strategy Format 1 35
■ Elements that make up the content of strategy 35
■ Clarify content in Strategy Format 37
■ Distinguish between strategy and objectives 37

2. Strategy, Objectives and Goals 39
■ When or if your objectives change, you have to change your strategy 39
■ Review of objectives 40

3. Modification of Strategy Format 2 43
■ The logic of strategy and capability priority 43
■ Strategy-first priority logic (Tesla example) 43
■ Capability-first logic (Amazon example) 46
■ Comparison of strategy-first logic and capability-first logic 46
■ Problems of strategy-capability combination logic 48
■ Three levels of understanding: rough, knowledge, and application understanding 49

4. Basic Postures and Factors of Strategy 54
■ What is strategy? 54
■ Be mindful of the relationship between Environment and Capability 55
■ The role of strategic actors 56
■ It is meaningless to discuss strategy without the strategic subject 56
■ Understand the basic structure of strategic factors 58
■ Redefining the term strategy 59
■ External response strategy and internal response strategy 59

5. Strategy and Capability 61
■ Strategy is determined by the capability of the strategist 64
■ Corporate performance is created by combining capability and strategic performance 66

6. Strategy Format 3 69
■ Are strategies and strategic alternatives the same? 69
■ When the distinction between strategy and strategic alternatives is not clear 70

7. Strategy Format 3.1 - Strategy Contents 72
■ What are the contents of strategy? 72

8. What is a Strategy Vector? 77
■ Growth Strategy Vector 77
■ Three-dimensional growth vector and strategy cube 79
■ What are the considerations of the strategy cube? 80
■ A strategy cube that enables a variety of choices 82
■ Vision of the Healthcare industry for the elderly - The romance of global group business and its development 83
■ Social response and management politics 84
9. Refining the Contents of Strategy 87
■ Making strategy contents and strategic alternatives more concrete 87
■ Implementation guidelines and action principles of [Strategy Format 3.1] 87
■ Example of [Strategy Format 3.1] 88

10. Strategy Format 3.1 - Capability 91
■ Basic requirements for competence 91
■ Human resource capabilities 92
■ Notes on using Strategy Format 99

11. Strategy Format 3.1 - Strategic Alternatives 101
■ Strategic alternatives is one of the measures for the implementation of strategies 99
■ Strategic alternative as a secondary strategy 101
■ Strategic alternatives that influence the performance of strategy implementation 103
■ Learn techniques and methodologies to identify strategic alternatives 103
■ Pay attention to the selection process and quality of the strategies and strategic alternatives 106
■ Imitation is the second creation 107
■ Unique strategic performance and combined strategic performance 107
■ Strategic focus 108
■ Responding to emergencies 109

12. Strategy Format 3.1 - Refining Strategic Alternatives 110
■ If the strategic alternatives of [Strategy Format 3.1] are more concrete 110
■ Incorporate validity into strategy 117

13. Summary of Strategy Format 3.1 119
■ Structure and utility of Strategy Format 3.1 119

14. Strategy Format 4 121
■ The strategy is implemented by the organization 121
■ Strategy Format 4 122

15. Strategy Format 5 124
■ Consider additional business management and business operation 124
■ Contents of Strategy Format 5 125

16. Strategy Format 6 127
■ Strategy Format 6 to specify the business operation contents 127

17. Strategy Format 7 129
■ Developing a strategy but not reviewing the necessary input resources? 129
■ Contents of strategic resources 131

18. Strategy Format 8 129
■ Increase the performance of your strategy by adding the innovation field 135

19. Strategy Format 9 129
■ Check the strategy risk field 137
■ Risk discriminates against people 138
■ The ambivalence of risk 138
■ Details of Strategy Format 9 139
■ Combining strategy risk and resource review 139
■ Reflect innovation and risk in strategy content 140

20. Strategy Format 10 129
■ Increase strategic performance by applying necessary strategic intelligence 142
■ Specific items to check for strategic intelligence 143

21. Utilizing the Strategy Format 144
■ Increase strategic performance by using the Strategy Format 144
■ Advantages of using the Strategy Format 144
■ Precautions when using the Strategy Format 145
Chapter III. Strategic Success 148
22. Preparing a Response Strategy for the Worst-Case Scenario 150
■ Organizations that rely on past strategies 150
■ Thoughts and behavior that makes things worse 150
■ Solving the situation when the organization falls to the worst situation 151
■ Developing strategies while at the worst situation 152
■ Three worst-case choices 153
■ Strategic performance cannot be achieved just by having a good strategy 154
■ Proactive (preemptive) and late response 155
■ The method of strategic response should be reconsidered 155

23. Modified Model of Strategy Vector 157
■ Three types of strategy vectors 157
■ Characteristics of strategy cube 157
■ Composition of the fourth strategy vector 158

24. Business x Market x Quality (BMQ) Strategy Vector and Quality 160
■ Quality in the BMQ strategy vector 160
■ Quality from a competitive perspective 160
■ Quality factors to be considered in relation to the quality of the strategy vector 161
■ Quality analysis matrix 162
■ 9 Principles of quality satisfaction 163
■ Principles to meet the quality standards 164
■ Principles to meet competitive quality standards 165
■ Principles of satisfaction for quality creation 166
■ 5 principles of quality strategy that determine the competitiveness of an organization 167
■ Quality Strategy 1st Principle 167
■ Quality Strategy 2nd Principle 168
■ Quality Strategy 3rd Principle 168
■ Quality Strategy 4th Principle 169
■ Quality Strategy 5th Principle 169

25. Review of Success Strategy Model 171
■ SECS model 172
■ RETS model 173
■ Three key questions of the RETS model 174
■ Tactical performance in the RETS model 175
■ Realize your strategy with LIFO tactics 176
■ Tactical performance should be improved through strategy review and reinforcement 177
■ Practical success strategy model: SECRETS model 177
■ 5+1 Strategic success factors 178
■ Design of a successful strategic framework 179
■ Diagnosis by element of SECRETS model 180

26. Strategy and Tactics 184
■ The concept and reality of tactics 184
■ The concept and reality of reality 185
■ Reconstruction of the concept of tactics 186
■ Tacts, contacts, tactics 188
■ Tactical response that influences execution performance 190

27. Aspiring and Development of New Strategic Creation 192
■ The Paradoxes required to respond to reality 192
■ The strategic mind and the ABC path approach 193

28. Using Maps For Navigation 196
■ The MCM map 196
■ The competition map 197
■ The social responsiveness map 198
■ The strategy map 202
■ The TIES map 206
■ Check the maps periodically 208
■ When the path is lost 208

29. Strategy Format PERD2 Framework 210
■ The basic framework for determining the structure of the Strategy Format 210
■ Strategy Format framework and R&D 212
■ From research and development (R&D) to research, design and development (RD&D) 213

30. Basic Structure of Strategy Format 215
■ RIRI strategic factors that promote strategic performance 215
■ Increase strategic performance through various types of combined deployment 216

31. Strategy Alignment Model 218
■ Strategy sketch 218
■ Balance of strategy vector and centripetal force 218
■ How to overcome the lack of strategic capability? 220
■ Centripetal force as a necessary condition of strategy 221
■ Management capability to promote strategic performance 222
■ Innovative management change is required for the development of strategic management 223
■ Be wary of fancy business and operational strategies that lack the core of environment response 224

32. 50 Principles for Strategic Response 228
■ Strategic response principles (Αρχές στρατηγικής ανταπόκρισης) 228

Epilogue 233
References 235
Appendix 238
Appendix A. SECRETS - 9 Categories 240
Appendix B. Aspiring and Development of New Strategic Creation - Typical Frustrations 248
Appendix C. 256
■ Find vitality in imbalance 257
■ The balance also depends on the scale 259
■ The scale that determines the external and internal balance 260

About the Authors 262

 
Table of Contents (Figures and Tables)

Chapter 1
<Table 1.1> Strategy Format Checklist 31
<Table 1.2> Strategy Format Selection Factors 32
<Figure 1.3/3.32> The Strategy Format Types 33

Chapter 2
<Table 2.1> Strategy Content and Format: [Strategy Format 1, 2] 36
<Figure 2.2> Strategy and Capability to Respond to the Environment 38
<Table 2.3> Composition of Strategy Format 39
<Table 2.4> Objective Setting and Strategic Response 39
<Table 2.5> Modifications and Feasibility of Objectives and Strategies 41
<Table 2.6> Feasibility of Objectives and Strategies 43
<Table 2.7> Original Strategy and Follow-up Strategy of [Strategy Format 2] 45
<Table 2.8> Example of [Strategy Format 2] 46
<Table 2.9> Characteristics of Strategic Response by Priority Logic 48
<Figure 2.10> Depths of Understanding 51
<Table 2.11> Level of Understanding and Action Responses 53
<Figure 2.12> Basic Structure of Strategic Factors 58, 171
<Figure 2.13> Capability Deployment AUDIT Strategy 63
<Table 2.14> Performance by Securing and Demonstrating Competence 66
<Table 2.15> Management of Capability Response 67
<Table 2.16> Combination of Strategic and Capability Performance 68
<Table 2.17> Strategy Content and Format [Strategy Format 3] 69
<Table 2.18> Specific Items of Strategy Content [Strategy Format 2.1] 72
<Table 2.19> Specific Items of Strategy Content [Strategy Format 3.1] 73
<Figure 2.20> Ansoff's Classical Strategy Vector 78
<Figure 2.21> Three-dimensional Growth Strategy 79
<Figure 2.22> Strategy Cube 80
<Figure 2.23> Strategic Cube for Elder Care Services Sector (Example) 81
<Figure 2.24> ABC Food Company Strategy Cube (Example) 85
<Table 2.25> Strategy Response Action [Strategy Format 3.1] 86, 99
<Table 2.26> Example of Subdivision of Strategy Content [Strategy Format 3.1] 88
<Table 2.27> Specific Items of Capability [Strategy Format 3.1] 90
<Table 2.28> Core Competencies and Knowledge of Organizational Members [Strategy Format 3.1] 92
<Table 2.29> Organizational Capabilities [Strategy Format 3.1] 94
<Table 2.30> Business Execution Capability [Strategy Format 3.1] 94
<Table 2.31> Facility Capacity [Strategy Format 3.1] 95
<Table 2.32> Resource Capabilities [Strategy Format 3.1] 96
<Table 2.33> Resource Transformation Capability [Strategy Format 3.1] 99
<Table 2.34> Strategic Alternatives [Strategy Format 3.1] 100
<Figure 2.35> Strategic Alternatives……………………………….…………..…………..102
<Table 2.36> SWOT Matrix 104
<Figure 2.37> New SWOT Matrix - SWOT-N 105
<Table 2.38> New SWOT Matrix - SWOT-N Making strategic Alternatives More Concrete [Strategy Format 3.1] 110
<Table 2.39> Formation of Strategic Response [Strategy Format 3.1] 112
<Table 2.40> Strategic Response Process and Operation Specification [Strategy Format 3.1] 113
<Table 2.41> Strategic Response Organization [Strategy Format 3.1] 114
<Table 2.42> Strategic Response Principles [Strategy Format 3.1] 116
<Table 2.43> Overall Composition of [Strategy Format 3.1] (Secondary Subdivision) 119
<Table 2.44> [Strategy Format 4] 123
<Table 2.45> Structure of Strategy Format (Strategy Formats 5 and 6) 124
<Table 2.46> [Strategy Format 5] 125
<Table 2.47> [Strategy Format 6] 127
<Table 2.48> [Strategy Format 7] 130
<Table 2.49> Overall View of [Strategy Format 7] 133
<Table 2.50> [Strategy Format 8] 136
<Table 2.51> [Strategy Format 9] 137
<Table 2.52> [Strategy Format 10] 142

Chapter 3
<Table 3.1> Examples of key Characteristics of Organizations that have lost Strategic Capabilities 152
<Figure 3.2> BMQ Strategy Vector 159
<Figure 3.3> Three Standards for Competitive Quality Determination 161
<Figure 3.4> Three Strategic Quality Factors 162
<Table 3.5> Strategic Quality Analysis Matrix 162
<Table 3.6> Strategic Quality Analysis Matrix (Example of Content Standards) 163
<Figure 3.7> Development of the Principle of Quality Satisfaction 164
<Figure 2.12> Basic Structure of Strategic Factors 171
<Figure 3.8> SECS Model of Strategic Success 172
<Figure 3.9> RETS Model of Strategic Success 174
<Figure 3.10> SECRETS Model of Strategic Success 178
<Figure 3.11> Strategic Success SECRETS Model Attributes Correlations 180
<Figure 3.12> Characteristics of Strategic Success SECRETS Model Deployment by Type 181
<Figure 3.13> Formation of Reality and Tactics 188
<Figure 3.14> 5C Model Composing Reality and Tactics 190
<Table 3.15> Difference between Mediocre and Victorious Response to Strategic Reality 193
<Figure 3.16> Strategic Path and Difference between Mediocre and Victorious Response to Strategic Reality 194
<Figure 3.17> MCM Map 197
<Figure 3.18> Competition Map 198
<Figure 3.19> The Levels of Social Responsiveness 200
<Figure 3.20> Social Responsiveness Map 201
<Figure 3.21> SWOT-N Matrix 203
<Figure 3.22> SWOT-NE Matrix 204
<Table 3.23> Competitive Strategy (SW-CC) Matrix 205
<Table 3.24> SWOT-CR Matrix 206
<Figure 3.25> Left Hand Thinking Principle 207
<Figure 3.26>: Right Hand Action Principle 207
<Figure 3.27>: TIES Map of Thinking and Action Principle 208
<Figure 3.11> Strategic Success SECRETS Model Attributes Correlations 210
<Figure 3.28> Crystal Structure of Strategy Format Framework 211
<Figure 3.29> Strategy Format PERDx2 Framework 212
<Figure 3.30> Strategy Format PERDx2 Framework and Strategic Success SECRETS Model 214
<Figure 3.31> Strategy Format to Improve Strategic Performance 215
<Figure 3.32> The Summary of the Strategy Formats 216
<Figure 3.33> Reflecting the Environment and Performance Factors when using the Strategy Format 217
<Figure 3.34> Strategy Vector and Centripetal Force 219
<Figure 3.35> Change of Strategy Vector and Centripetal Force (SC Balance) 220
< Table 3.36> Means and Alternatives for Securing Capabilities 221
<Figure 3.37> Management Actions to Manage the Balance Between Centrifugal force and Centripetal force (SMC balance) 223
<Figure 3.38> Integrated Development of Strategy, Management, Capability, and Operations (SMCO) 225
<Figure 3.39> Alignment of SMCO 226


Appendix
<Figure Appx A.1> Characteristics by Type of Strategic Success SECRETS Model Deployment 242
<Figure Appx B.1> Typical Flow and Problem Phenomena of Business Strategy Development when Ignoring the Strategy Path 249
<Figure Appx. B.2> Typical Flow and Problem Phenomena of Business Strategy Development when Ignoring the Strategy Path (2) 250
<Figure Appx. B.3> Typical Flow and Problem Phenomena of Business Strategy Development when Ignoring the Strategy Path (3) 252
<Figure Appx. B.4> ABC Strategic Vector and Sub Vectors 253
<Figure Appx. B.5> 9C Settings for the Better Business Results 254
<Figure Appx. C.1> Alignment of SMCO 256
<Figure Appx. C.2> Dynamic Alignment of SMCO 258
<Table Appx. C.3> Classification of Response Scale Required for Environmental Response 260


 

책 속으로

■ The basic format of strategy
When some people talk about strategy, they think of goals, while others think about market strategy or competitive strategy. There's nothing wrong with giving different people different ways of talking about strategy. Each individual is developing a strategic response using their own strategic intelligence and it may be rather restricting to have a uniform strategic judgment.
However, if the contents of the strategy, or structure, or form, or vocabulary, or interpretation is different and that strategy is put into practice, various inefficiencies and confusion will occur leading to wasted time, effort and resources.
Therefore, when developing a strategy, it is useful to establish a basic framework and structure at the starting phase.
No matter how good the food is, it is better to divide it into a well-ordered containers ready for delivery so the tastes are separated, rather than delivering it all mixed together, in one large container. Just as the value and taste of the food is properly separated, strategy is also a way to communicate by defining and utilizing a certain form and frame. If you make it comprehensible and responsive, the results will increase due to lack of wasted resources and misunderstandings.
In this book, we will examine the basic forms of strategic grammar and outline the contents and characteristics of each basic form. For convenience, the basic format of a strategy will be referred to as “Strategy Format”.
We will start from the basic Format and will move to the more complex ones. But first let’s introduce them before we go into a more detailed analysis.
The Strategy Format is used in many different ways depending on the user, that is the strategic subject, and the strategic intention. Even when we think of strategies in our own heads, we have some form and structure that composes them. Even in situations where survival is imminent, in fierce competition, or when we make plans leisurely, we think of our own assumptions, logic, and forms and structures in our heads.

출판사 서평

The concepts are successfully applied to both for and not for profit organizations, as well as government agencies.

Every situation, every organization, every circumstance is unique and you are the one who needs to take all into consideration in applying what is needed to optimize what you want to achieve.

Every organization is directly affected by its environment that is operating in creating a need for change. It is by applying a strategy that organizations successfully deal with the changes in the environment. But strategy by itself does not mean much if it is 'strategy for the strategy shake'. The key is the capability of the organization to proact, adopt, respond and adapt in such a way that will make the organization a successful player in the global marketplace. The right combination makes for the right outcome: on one hand the strategy and on the other hand the organization’s capability to proact.

This is well said, but what does an organization need to do to deal with all of this? Which are the steps that an organization could take to get a roadmap of specific actions that include all what is needed?

With all this continuous turmoil it has become apparent that strategy is the mechanism which leads any organization to its next stage of development. But how is it that it can be understood and put into perspective? This is what we try to answer in this book.

Choices are critical in strategy. If you make the wrong choice, you are going down the wrong path, and you are going to lose your strategic performance. Of course, you can take a step back and reap something, but such windfalls seldom come easily.

Therefore, making the right choices play an important role in the strategic thinking process. The alternatives to choose from must be configured first.

To properly develop such strategy creation, there are some things that we need to consider, like:
raising the level of awareness and understanding of the impending environment and situation,
developing an intelligent response to it,
developing and creating the appropriate strategy to achieve it, and
implementing its execution.

With this awareness in mind, we concentrated on these core topics: how to innovate strategic methods, and how to respond in order to increase an organization’s strategic performance.

In this book, we introduce steps to create and discuss strategies which can be applied to all types of organizations whether they are for or not for profit organizations as well as governmental ones. In addition, we note areas to prevent confusion of concepts often seen in strategic thinking and judgment, as well as strategic implementation actions.

Chapter 1 examines the necessity of constructing and using a Strategy Format to prepare in addressing the confusion of the strategy concept used in organizations and enhancing strategic effectiveness.

Chapter 2 introduces [Strategy Format 1] to [Strategy Format 10] focusing on the types, contents, structure and process based on attaining the strategic reality.

Chapter 3 supplements the strategy concepts and additional content that needs to be looked at in relation to the Strategy Format.

This book includes a series of tools applicable under different circumstances. Some are familiar, some are modifications of current ones, and a lot are new ones. These are the ones we have in our ‘tool box’; the ones we use in our consulting engagements. The book is full of tables, how to approaches, and illustrations of content.

This book is for you who is actively participating in an organization’s strategic design and response, regardless of position or sector. It is also beneficial to all of you who are involved in the implementation of strategy.

작가정보

저자(글) Dong Joon Park

Dong Joon Park, M.A., Ph.D.
D.J. Park is the president of Soft Management Research Institute and senior consultant/professor of Strategic Management at AIASM Korea.
He was the president of Ansoff Korea for 30 years and a member of Ansoff Institute Board of Directors. He has conducted many strategic management seminars for managers and executives for leading Korean companies such as Samsung, Hyundai-Kia Group, LG, SK, KOGAS, POSCO, Bank of Korea along with Korea Government departments and agencies.
Dr. Park established the Ansoff Strategic Management School in Korea. He has written 15 books in Strategy. He developed strategic planning and created tools such as Strategic Issues Solution (SIS) program, E-Z Management, New SWOT process, and the Frameworks of Enterprise Strategy Architecture.
Dr. Park is currently researching and developing Strategic Initiatives Management for transforming and revolutionary environments. He teaches select courses and provides consulting for Korean managers and executives.

저자(글) Peter H. Antoniou

Peter H. Antoniou, MIBA, DBA
Peter H. Antoniou received his Doctorate in Strategic Management and his Master’s in International Business Administration.
He worked closely with Prof. Igor H. Ansoff, consulting, doing research and product development in Strategic Management.
He founded Pomegranate International in 1986, a firm engaged in: International Venturing, Educational programs, and Consulting activities in the area of strategic management. He teaches select courses in Strategic Management and International Business and serves on Corporate Boards.
Dr. Antoniou travels frequently to Europe and Asia to deliver seminars and consult in the areas of Strategic Management and International Business. He has worked with a wide range of companies including IBM-Brazil and Mexico, Johnson Wax, Infotec, the US Navy and the Pearl River Investment Group. He was given awards and recognitions for his contribution in China, Korea and the US.
Dr. Antoniou has authored and co-authored 21 books published and translated in Bulgaria, China, Greece, Korea and the US. His articles are featured at national and international publications. He was contributing editor at the China Business Review.